I keep getting the objection of "I already have an advisor" and it is often Edward Jones (I am a rookie so I have no right to bash them!) as I am in a small rural area. I try to overcome the objection by asking about their portfolio, their returns, are they happy, etc. this is the most common objection I get and I find it hard to convince somebody to come in for an appointment when they aleady have an advisor. What are some of the angles that you have had success with in the past in penetrating existing relationships?

You: Most of our clients are people who were with traditional firms and were ready to move to the next level.

Prospect: What do you mean?

You: What would moving to the next level mean, in YOUR world?

Make up your own answer for "why?" The important thing is that you've taken their objection away from them and used it to move closer to you. They are totally unprepared for you to say that their objection is a good thing for you.

I keep getting the objection of "I already have an advisor" and it is often Edward Jones (I am a rookie so I have no right to bash them!) as I am in a small rural area. I try to overcome the objection by asking about their portfolio, their returns, are they happy, etc. this is the most common objection I get and I find it hard to convince somebody to come in for an appointment when they aleady have an advisor. What are some of the angles that you have had success with in the past in penetrating existing relationships?

Let me know your thoughts and ideas, thanks mooose

a)Don't bash the other firm or advisor

b)Ask a question to make them "think"

c)Try to offer them a free review

d)Lather, rinse, repeat.

What cold walking REALLY is supposed to do is PREQUALIFY those you want to do business with from those you don't. Better to know ASAP than drip on someone for a year with NO HOPE of getting their assets.........

You: Most of our clients are people who were with traditional firms and were ready to move to the next level.

Prospect: What do you mean?

You: What would moving to the next level mean, in YOUR world?

Make up your own answer for "why?" The important thing is that you've taken their objection away from them and used it to move closer to you. They are totally unprepared for you to say that their objection is a good thing for you.

Nice Bobby, I like that. I won't even post what I would say as that completely blows me out of the water.

"Gee Mr. Prospect it never occured to me that I should solicit people who already have brokers and money in the market. And to think that all this time I was trying to convince people with no money to invest with me!"

I'm a get the appointment kind of guy. I handle almost all objections the same way.

"I can appreciate what you are saying. Most successful people like yourself have an advisor. Like I said, I'll be in your building on Tuesday. Can we get together for a few minutes at 2:00 or would sometime on Thursday be better?"

"Gee Mr. Prospect it never occured to me that I should solicit people who already have brokers and money in the market. And to think that all this time I was trying to convince people with no money to invest with me!"

Those are the people you want. They value an advisor and at least they have shown they have enough money to have an advisor.

I make sure to NEVER ask about performance. Try to sell them on service. Competing on return is sure come come back to haunt you long-term.

Bobby's can work well if it fits your personality, just make sure you are comfortable saying it yourself.

You will get this objection all the time. 50% of the time they don't even know the name of their "advisor," but it is simply a quick objection they think will make you go away sooner. Bottom line-you better come up with something comfortable cause you will need it often.

Mr Client I completely appreciate your loyalty to your advisor and Edward Jones is a great firm. You've worked hard for your money and it wouldn't hurt to learn of the resources and services "your firm's name" provides for me that allows me to differentiate myself from my competitors to fullfill your needs. I promise you won't be dissapointed.

Next step is to not dissapoint. Do what you need to to get them in the door. The appointment is everything. without it there's no sell.

when i had two clients in the door i talked to them abour wrap accounts and putting myself and career on the same side of the table with them. i stole to jones' accounts.

I keep getting the objection of "I already have an advisor" and it is often Edward Jones (I am a rookie so I have no right to bash them!) as I am in a small rural area. I try to overcome the objection by asking about their portfolio, their returns, are they happy, etc. this is the most common objection I get and I find it hard to convince somebody to come in for an appointment when they aleady have an advisor. What are some of the angles that you have had success with in the past in penetrating existing relationships?

I keep getting the objection of "I already have an advisor" and it is often Edward Jones (I am a rookie so I have no right to bash them!) as I am in a small rural area. I try to overcome the objection by asking about their portfolio, their returns, are they happy, etc. this is the most common objection I get and I find it hard to convince somebody to come in for an appointment when they aleady have an advisor. What are some of the angles that you have had success with in the past in penetrating existing relationships?